The Hourly View for RTY
Last Updated September 24, 2020, 00:06 GMT
At the time of this writing, RTY’s price is down $0 (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as RTY has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Russell 2000 Daily Price Recap
The choppiness in the recent daily price action of Russell 2000 continues; to start today, it came in at a price of 1451.4581 US dollars, down 3.04% (45.5) since yesterday. Relative to other instruments in the equity indices asset class, Russell 2000 ranked 13th since yesterday in terms of percentage price change. Below is a daily price chart of Russell 2000.
Russell 2000 Technical Analysis
Notably, Russell 2000 crossed below its 100 and 200 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For another vantage point, consider that Russell 2000’s price has gone down 9 of the previous 14 trading days.
Overheard on Twitter
Behold! Here are the top tweets related to $RTY:
- From TraderKarthik:
I’m not saying that this can’t be an actual, sustained bounce but if it is, $RTY wants nothing to do with it, which is suspect enough for me
- From tdarling1:
$COMPQ 10779 -0.1% diverged from $SPX 3281 -1.1% and $RUT 1484 -3.5% and $NQ higher this morning.$ES_F 3269 -0.2%
$NQ 10999 +0.1%
$RTY 1478 -0.3%
- From NanaimoTrader:
Holy smokes… what happened to the markets while I was gone! 😲😲😲